đŁ Coinbase rings alarm bells over the talent drain in the US crypto scene! đ§âđ»đ
âą US-based crypto developers are down 14 points in 5 years, now at a mere 26%. Big bosses at Fortune 500 firms see this talent shortage as a bigger hurdle to crypto adoption than regulatory issues.
âą Meanwhile, small businesses are on the hunt for crypto-savvy folks for their IT, finance, and legal teams. They believe crypto can tackle financial woes like processing time and transaction fees.
âą Despite the talent dip, the US is buzzing with on-chain projects. Web3 initiatives by Fortune 100 companies have shot up by 39%!
âą Post the approval of a spot Bitcoin ETF, assets under management have soared past $63 billion.
âą Senator Cynthia Lummis warns that the Biden administration's strict stance on Bitcoin could drive the industry overseas. She urges for a more welcoming environment for domestic growth.
âą Payment giants PayPal and Stripe are making stablecoins more accessible. Stripe now accepts USDC payments that auto-convert to fiat. PayPal supports fee-free cross-border transfers across 160 countries.
âą 48% of F500 execs believe crypto can boost access to financial systems.
Let's chat! đšïž What's your take on the talent drain and the future of crypto in the US? #CryptoChat #CoinbaseReport